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Certainties and Novelties in Production Economics


  • Quirino Paris


Michele De Benedictis has for some time taken an interest in behavioral models for agricultural entrepreneurs. Often, such models are specified by means of a production function and a cost function with the associated derived demands for inputs. In order to make such models operational in a given empirical setting, the approach in the traditional literature has been to estimate either the production function and the associated first order conditions or the system of derived demand functions for inputs. This paper proposes an encompassing approach which consists in the joint estimation of the production function and the associated first order conditions and the system of derived demand functions. Empirical verification lends support to the hypothesis that full utilization of the available information requires a primal-dual approach, as presented in this paper.

Suggested Citation

  • Quirino Paris, 2009. "Certainties and Novelties in Production Economics," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 3, August.
  • Handle: RePEc:rar:journl:0113

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    References listed on IDEAS

    1. Quirino Paris, 2008. "Price-induced technical progress in 80 years of US agriculture," Journal of Productivity Analysis, Springer, vol. 30(1), pages 29-51, August.
    2. Mundlak, Yair, 1996. "Production Function Estimation: Reviving the Primal," Econometrica, Econometric Society, vol. 64(2), pages 431-438, March.
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    More about this item


    Production Function; Cost Function; Primal-Dual Method; Joint Estimation;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory


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